£340k loan for a Pharmacy Business!

Pharmacy chemist, mother and child in drugstore

Key would like to showcase the below Healthcare deal that we have just recently secured.

  • The client is a newly qualified Pharmacist at the age of just 26 years old.
  • The business has been successfully trading for 25 years.
  • The client was seeking a loan for a Pharmacy Business only as they were already operating from leased premises.
  • The clients family has a background in the Pharmacy sector.
  • The client wanted to borrow a total loan amount of £340,000- borrowing £160,000 and to then pay the rest of the money to a vendor over time.
So how did Key secure the deal?
  • After speaking with a number of high street banks we found a lender who was able to secure the full amount of £340,000 at very competitive rates, £200,000 at 2.4% over base rate (secured element) and 2.9% over base rate on the remaining unsecured.
  • The term being at 25 years
  • The clients mother was very keen to provide her support by adding security and became a Director and minor stakeholder in the business.
The above deal is a strong example of the skills and expertise of our brokers. Here at Key our team of highly experienced ex-bank managers will endeavour to find a solution for any situation and always strive to find the best deal for our clients. If you are an inexperienced healthcare professional looking for the above or need assistance with any other means of healthcare finance, then please contact Key today.